Nikolas Sargeant
Cryptocurrency exchange Uphold has resumed its staking services in the US, enabling customers to earn rewards on holdings of 19 different crypto assets, including Ether, Cosmos, and Polkadot. The service, which had been paused in 2023 due to regulatory uncertainty, is now live again following a shift in the regulatory landscape. Uphold’s decision to relaunch its staking offering is a direct result of the changing stance of US regulators toward digital assets, particularly the Securities and Exchange Commission (SEC).
The relaunch follows a similar decision by Uphold to resume staking services in the United Kingdom earlier this year. Starting March 3, 2025, US customers can once again stake their crypto and earn rewards, with payouts made in the same cryptocurrency. This move reflects the growing optimism in the US crypto space, as regulatory clarity has improved under the new presidential administration, with crypto-friendly figures now influencing US policy.
Uphold CEO Simon McLoughlin previously halted the staking feature in the US due to the SEC’s regulatory crackdown on staking providers, including fines against platforms like Kraken. McLoughlin noted that the regulatory environment at the time, marked by "regulation by enforcement," made it difficult for Uphold to continue offering staking services. However, with the SEC now dropping several crypto cases, including the case involving Coinbase, the company feels more confident in providing staking options again to its US customers.
Praising the work of crypto-aware regulators, McLoughlin highlighted the leadership of figures such as Hester Peirce, who leads the SEC's crypto task force, and Mark Uyeda, the presumptive incoming Chair of the SEC. With this new era of "common sense" regulation in the US, Uphold is excited to offer staking services to its customers again, recognizing the importance of staking in blockchain governance and the broader crypto economy.
